Incentives for construction sector: PM optimistic about provinces’ approach to extension

ISLAMABAD: Prime Minister Imran Khan has expressed the confidence that the provinces will try to get maximum benefit from the extension in incentives for the construction sector.

The prime minister, while chairing a meeting of the National Coordination Committee (NCC) on Housing, Construction and Development, on Thursday, stated that the construction sector had been stabilising the economy and creating employment opportunities.

He emphasised the need to protect the environment during urban development and construction activities.

The Capital Development Authority (CDA) chairman gave a briefing to the prime minister about the construction in E-11 sector, and informed that separate rules have been made for this sector.

The chief secretary KP briefed the meeting about the master plan of 11 cities, and stated that in formerly known tribal districts, master planning was underway for six locations. The meeting was further informed that Rs242 billion had been earmarked for development projects for the fiscal year 2021, and Rs61 billion had been released till December 2020.

The chief secretary Sindh informed the meeting about the progress in construction-related projects.

Earlier, the prime minister also presided over a meeting to review the progress on Ravi Urban Development Project, and chairman Naya Pakistan Housing Authority briefed the meeting. The meeting discussed environment protection measures for Ravi City.

The meeting was also informed about the talks with international investors regarding the projects, and soon MoU would be signed with a company to produce electricity from waste.

The meeting was informed that all the issues in land purchase to increase the capacity of the project had been removed, and three base camps had also been established for development of the projects.

Copyright Business Recorder, 2021